Articles Posted in Banking Law

In the aftermath of a March 2019 Capital One data breach that reportedly compromised the data of over 100 million Capital One customers and credit card applicants, plaintiffs are suing not only the credit card company but also the software development platform where the alleged perpetrator posted information about the breach. The hack is said to have exposed the social security numbers, bank account numbers, and credit card applications of millions of people in the US and Canada.

Bitcoin trader Morgan Rockoons will stand trial in San Diego after being indicted for failure to comply with federal anti-money laundering rules. His case highlights questions that authorities have wrestled with since the emergence of cryptocurrencies, namely whether they are subject to the same banking rules as government-recognized currency.